The Zhongguancun administrators and Beijing’s Haidian district have announced a 100-million-yuan ($14.9 million) package of financing for enterprises that contribute to innovation in the integrated circuitry (IC) industry, especially for large companies with international influence that contribute to regional development.

The report comes from Meng Jingwei, Haidian’s executive deputy chief who says that the government also has measures to attract overseas talent in the IC sector, including preferential visa policies, children's schooling, housing and professional titles.

One part of the effort to push the IC industry in Zhongguancun is an innovation platform planned for the Integrated Circuit Design Industrial Park to serve capital investment, financing, technology R&D, training and innovative project incubation, which is expected to generate revenues of about 30 billion yuan a year.

Work on the Zhongguancun Integrated Circuit Design Industrial Park will be completed next year and the park is expected to go into operation in early 2018 and to accommodate more than 150 firms, including at least 5 - 8 large international IC design companies.